H.I.G. Capital Acquires Cel Lep, a Leading Educational Company in Brazil
RIO DE JANEIRO, BRAZIL – September 14, 2012 – H.I.G. Capital, LLC, a leading global private investment firm, announced today that its Brazilian affiliate has completed the acquisition of Cel Lep Idiomas (“Cel Lep” or the “Company”), a leading premium English Language Teaching (“ELT”) network in Brazil.
Headquartered in São Paulo, Brazil, and operating primarily under the Cel Lep brand name, the Company operates through 17 owned schools in São Paulo and through 4 other licensed schools in the states of São Paulo and Minas Gerais. Cel Lep provides premium quality services to its students and is recognized as a go-to center for students seeking top quality foreign language education.
Professor Walter Toledo Silva, founder of Cel Lep commented, “We are excited about the H.I.G. acquisition. Their ability and experience in helping companies grow all over the world will help build on my legacy and accelerate the expansion of Cel Lep. I am confident they will maintain the top quality status of Cel Lep, helping an ever growing number of Brazilians in their efforts to speak English.”
Fernando Marques Oliveira, Managing Director and Head of H.I.G. Brazil, will be the new Chairman of Cel Lep. He commented “We are very pleased to acquire such a strong platform as Cel Lep and to help its management team in their growth plan and continued success. Brazil has a pent-up demand for high quality English courses which Cel Lep has always focused on. We are also excited to expand the company beyond its traditional presence in São Paulo and offer premium English courses to students elsewhere in Brazil. We are bringing additional seasoned talented professionals who are joining the Company as part of the transaction, including a CEO and CFO. Together with the Company’s great management team, they will be the basis for a more aggressive expansion plan.”
About Cel Lep
Cel Lep is a premium ELT network founded in São Paulo, Brazil in 1967. The company has always focused on innovation such as its famous language labs and its proprietary methodology. With its focus on high quality education, Cel Lep has taught English to more than 420,000 students. For further information, please visit www.cellep.com.br.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than $10 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Paris, and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 80 companies with combined revenues in excess of $8 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.